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Libya launches first oil exploration bid round in 17 years

Oil & Gas 360º

The bid round is expected to attract foreign investors and drive exploration activities across Libyas resource-rich basins, enabling global energy companies to engage in a market that has remained largely unexplored for nearly two decades.

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African national oil companies (NOCs) partnering with independents to drive E&P

Oil & Gas 360º

(World Oil) – Africas national oil companies (NOC) are moving beyond operating as state-representatives by transforming themselves into competitive upstream players. UNOC is also advancing exploration in the Moroto-Kyoga basins, with preliminary studies aimed at uncovering new oil fields.

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BP and Chevron Hit Oil in Deepwater Gulf of America

Rextag

The discovery comes amid BP's broader pivot away from rapid renewables expansion toward reinforcing its upstream oil and gas portfolio to meet investor expectations and improve financial performance. Gulf Remains Core to BP's Growth The Gulf of America remains a critical area for BPs upstream operations.

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BP’s Q1 2025 Update: Gulf of Mexico Success, Increased Texas Drilling & Oil Price Softness

Oil Gas Leads

Looking ahead, BP plans to drill around 40 exploration wells over the next three years , underscoring its ambition to expand its upstream production base. Quarterly Drilling Activity Comparison Q1 2024 Activity Count: 52 wells Q1 2025 Activity Count: 56 wells Year-over-Year Change: +7.7% billion (up from $1.2

Oil 52
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How Energy Giants Performed in Q1 2025: A Breakdown of Equinor, BP, Hess, and NOG

Rextag

Strategic Production Outlook Equinor plans to: Drill ~250 exploration wells on the NCS by 2035 Continue expanding low-carbon solutions through CO storage projects like Northern Lights Phase 2, with injection capacity increasing from 1.5 shale basins. Net producing wells (end of period): 1,133.9 billion Net Income: $2.63